Demand for Barracuda's email security services continues to accelerate. Indeed, the company's Barracuda Sentinel service generated 440 percent year-over-year growth in Q1 of fiscal year 2020 compared to the corresponding quarter in 2019.
Also, the company says:
- Barracuda Essentials, the company’s all-in-one , backup and archiving service, saw 46 percent growth in sales year over year.
- Annual recurring revenue (ARR) for Barracuda MSP’s email protection line grew 122 percent year over year.
- Barracuda’s email protection business has grown to more than a $200 million annual run rate in FY2019.
What's driving the demand? Recent Barracuda research offers some potential answers. For instance, 78% of organizations say the cost of email breaches is increasing, and 43% of organizations have suffered at least on spear-phishing attack in the past 12 months.
Barracuda Networks has grown both organically and through mergers and acquisitions. The company is owned by private equity firm Thoma Bravo.